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Board committee forwards surplus-property sale recommendation for 5245 Highway 70
Summary
Fayette County school officials heard a commercial realtor presentation about marketing and sale options for the former school at 5245 Highway 70 (approx. 28,000 sq ft on ~8.61 acres, with an adjacent tract making ~19 acres total) and forwarded a recommendation to the full Board after a 2–1 committee vote.
Representatives of Crye-Leike Commercial Realtors presented professional real-estate services and market analysis for school properties previously declared surplus, focusing on the former school at 5245 Highway 70.
Jamie Henson and Susan Hines (both CCIM-affiliated) described commercial marketing, property valuation, contract negotiation, photography and aerial imaging and outlined potential redevelopment uses for the site, including industrial flex space, office space, educational facilities, places of worship and mixed-use development. They noted the site’s proximity to Interstate 40 and BlueOval City and said an adjacent tract increases the property to approximately 19 acres; the primary building is about 28,000 square feet on an approximate 8.61-acre parcel.
Committee members discussed zoning, highest-and-best-use analysis and marketing other surplus properties. Committee member Myles Wilson asked whether additional commercial real-estate firms would also be invited to present proposals. Chairman Warner Speakman said the recommendation would be forwarded to the full Board for additional consideration and potential issuance of a Request for Proposals. The committee approved forwarding the recommendation to the Board (Motion: Kevin Powers; Second: Warner Speakman; Vote: 2 Yes, 1 No).
